Thomson Reuters (TSE:TRI) Stock Crosses Below 200 Day Moving Average – What’s Next?

Thomson Reuters Co. (TSE:TRI) (NYSE:TRI) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$231.59 and traded as low as C$180.92. Thomson Reuters shares last traded at C$181.76, with a volume of 104,968 shares changing hands.

Analysts Set New Price Targets

TRI has been the subject of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of Thomson Reuters from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Huber Research raised Thomson Reuters to a “strong-buy” rating in a research note on Monday, October 20th. TD Securities raised Thomson Reuters from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$275.00 to C$285.00 in a research report on Thursday, August 28th. Wells Fargo & Company raised shares of Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 9th. Finally, The Goldman Sachs Group upgraded shares of Thomson Reuters from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Six equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average target price of C$265.80.

Thomson Reuters Stock Down 0.3%

The company has a market capitalization of C$80.85 billion, a PE ratio of 46.72, a PEG ratio of 3.64 and a beta of 0.20. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 24.28. The business has a fifty day moving average of C$196.06 and a 200 day moving average of C$231.59.

Thomson Reuters (TSE:TRI) (NYSE:TRI) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.85 earnings per share (EPS) for the quarter. Thomson Reuters had a net margin of 32.12% and a return on equity of 20.19%. The company had revenue of C$2.48 billion for the quarter. Equities research analysts anticipate that Thomson Reuters Co. will post 5.6395803 EPS for the current year.

Thomson Reuters Company Profile

Thomson Reuters is the result of the $17.6 billion megamerger of Canada’s Thomson and the United Kingdom’s Reuters Group in 2008 and the 2018 carve-out of its finance and risk business, Refinitiv, in which it holds a 45% stake. In 2019, the company agreed to exchange its 45% stake in Refinitiv for a 15% stake in LSE. Since the divestiture, the company is more concentrated on selling its flagship legal data and software, WestLaw, and its tax accounting software, OneSource. In addition, the company does hold a significant investment in the publicly traded Tradeweb, which operates a fixed income exchange.